Chemours (NYSE:CC) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Chemours (NYSE:CC) from a strong-buy rating to a strong sell rating in a report issued on Tuesday,Zacks.com reports.

A number of other analysts have also issued reports on CC. Mizuho set a $22.00 price target on Chemours in a report on Wednesday, August 5th. Truist Financial reduced their price objective on Chemours from $30.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Weiss Ratings lowered Chemours from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Morgan Stanley set a $18.00 target price on Chemours in a report on Monday. Finally, Alembic Global Advisors reissued an “overweight” rating and set a $30.00 price target on shares of Chemours in a research report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Chemours has a consensus rating of “Hold” and a consensus price target of $21.00.

Chemours Trading Up 3.1%

Shares of CC opened at $15.26 on Tuesday. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -7.99 and a beta of 1.43. The company has a debt-to-equity ratio of 18.98, a current ratio of 1.66 and a quick ratio of 0.88. Chemours has a 1-year low of $10.44 and a 1-year high of $28.67. The company has a 50-day moving average of $18.76 and a 200 day moving average of $20.03.

Chemours (NYSE:CC) last issued its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.65 billion. Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.Chemours’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.54) earnings per share. On average, research analysts expect that Chemours will post 0.88 EPS for the current year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, August 14th. Chemours’s payout ratio is -18.32%.

Insider Buying and Selling

In other news, CFO Shane Hostetter purchased 3,350 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was acquired at an average cost of $14.94 per share, with a total value of $50,049.00. Following the completion of the transaction, the chief financial officer owned 102,698 shares in the company, valued at $1,534,308.12. This represents a 3.37% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Chemours

Hedge funds and other institutional investors have recently bought and sold shares of the company. Baird Financial Group Inc. acquired a new position in shares of Chemours during the first quarter worth $148,000. Royal Bank of Canada increased its position in Chemours by 6.8% during the 1st quarter. Royal Bank of Canada now owns 585,702 shares of the specialty chemicals company’s stock valued at $7,926,000 after buying an additional 37,382 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Chemours in the first quarter valued at about $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Chemours by 149.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company’s stock valued at $593,000 after buying an additional 25,899 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in Chemours in the first quarter worth about $403,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Company Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.